Ok I just blew up last week. Caught short. Ate a plateful of shit. Everything from the $MA short to bonds to the fucking $UVXY all got me in the nads for get this,
8% loss on the roll. Oh yeah. Everything stopped out and then some in some instances. It’s all very frustrating. I dont want to reconstruct the trades. Basically in a news sensitive environment I was afk. I had leveraged positions, nothing massive mind you, but they all collectively lost at the same time. Tuesday Wednesday and Thursday of last week was not a good thing.
So we’re down about 7.1%
I do have some decent news though, I’ve recovered 3% of the roll so far on $JDST which I am letting run. Which is sad because if I hadn’t fucked up all the other trades, I could let this horse run and ACCOMPLISH my goal for the month.
Here’s where I am at:
$JDST initial position and add – cost basis 14.19.
$BIS cost basis 12.11 initial position
$SQQQ cost basis 35.10 initial position
Right now $JDST is running nicely. $GDXJ can catch down to the seniors as gold prepares to possibly give up its large bottoming pattern, or in the alternative break down a huge descending wedge. Either way the dollar is soaring and I expect further weakness in PM. I don’t know if I can get back to even par this month but its possible, so let’s just see what happens. Can’t make it all back and get to our goal in a week and a half of trading, so let’s just do the best we can and chalk it up to experience. Meanwhile, this weekend’s paycheck I get the bullets in for September and October, so my deposits are done.
Edit: I pressed my $JDST and have a pretty much full position going into the last half hour. Cost basis now $15.04. It kills me that I’ve been waiting all month for a shot like this and it comes after I shit the bed. Chessnwine had a good point that tomorrow might be the date for gap down followed by bounce. If that’s the case I will be keeping an eye out for the profit taking button.
